When Resources and Capabilities Serve as a Source of Competitive

question 32

Multiple Choice

When resources and capabilities serve as a source of competitive advantage for a firm,the firm has created a(n) :

• A) Strategic mission
• B) Inspiring vision
• C) Core competence
• D) Sustainable market niche

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Definitions:

Sales On Account

Transactions where goods or services are sold and delivered, but payment is agreed to be made at a later date.

Internal Controls

Processes and procedures implemented by a business to safeguard its assets, enhance the reliability of its accounting records, ensure compliance with laws, and promote efficient operations.

Accounting System

A structured process of recording, summarizing, and analyzing an organization's financial transactions.

Chart of Accounts

A systematic list of all account titles and numbers being used by an organization to organize its financial transactions and prepare financial statements.